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China imported 1,343 tons of gold in 2022, the highest import level since 2018. Total gold imports for the year were up 64% over 2021. China ranks as the world’s biggest gold consumer.
There is apparently a new economic buzzword out there – supercore inflation. CNN says this is a buzzword we all need to pay attention to. Why?
The fake debt ceiling fight is on and the Biden administration has ratcheted up the scare tactics. One of its strategies is to make you think the world will collapse if the US defaults on its debt obligations. After all, the US always pays its bills on time — so we’re told. A default would […]
Just four months into fiscal 2023 and the US federal budget deficit is already approaching half a trillion dollars. This is a big problem for the Federal Reserve that few people seem to be talking about.
The Federal Government ran a deficit of -$39B in January. While that may not seem like much, it looks worse when compared to the average January.
You’ve probably heard the saying that history might not repeat, but it often rhymes. If that’s true, looking back at the runup to the 2008 financial crisis and Great Recession should cause concern. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at some of the parallels between then and now. […]
A bill introduced in the Wisconsin Senate would create a state sales tax exemption on the sale of gold and silver bullion. By effectively repealing the sales tax, the bill would relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
If you have any skepticism of government narratives at all, you have to question last week’s non-farm payroll report from the Bureau of Labor Statistics. Given the number of layoffs and the general slowing of the economy, the notion that 517,000 jobs were created in January just doesn’t make sense. Turns out that your skepticism […]
Despite hitting the debt ceiling, the US Treasury managed to add $35 billion in new debt during January. The Treasury has employed extraordinary measures, including exchanging Non-Marketable (e.g., Government employee retirement funds) and other forms of debt for short-term Bills. The balance on Bills grew by $241 billion which was the largest single-month growth since […]
Consumer debt grew at a slower pace in December, but Americans continued to rely heavily on credit cards to keep up with high price inflation.
